Signal Korea's working-age population projected to fall from 37.5 million in 2020 to about 25 million by 2040 as national debt climbs

Summary

The tax-base overview projects that Korea's working-age population will fall from 37.5 million in 2020 to around 25 million by 2040. It places this within the country's entry into a super-aged society in 2025, when one in five residents will be 65 or older. The overview also tracks national debt rising from 43.8 percent of GDP in 2020 to 54.5 percent in 2024, with a Ministry of Economy and Finance projection of more than 70 percent by 2035. The survey uses these figures to show how a shrinking base of workers and consumers erodes tax revenue while welfare obligations expand. It concludes that the combination makes fiscal sustainability an increasingly urgent structural concern.